Glossary
A reference guide to terms and concepts used throughout StockWise.
A
ABC Classification
A method of categorizing products based on their contribution to total sales. Class A items are most valuable (top 20% of sales), Class B are moderate, and Class C are lower priority.
Active (Notification Status)
A notification that is currently enabled and will send alerts at the scheduled time.
C
Consumption Rate
See: Daily Consumption
Current Stock
The number of units currently available for sale. Synced from Shopify inventory.
D
Daily Consumption
The average number of units sold per day, calculated from historical sales data. Used to determine how long current inventory will last.
Days Remaining
An estimate of how many days current inventory will last at the current consumption rate. Calculated as: Current Stock ÷ Daily Consumption.
F
Forecast
A prediction of future sales based on historical patterns. StockWise generates demand forecasts to help plan inventory purchases.
Forecast Accuracy
A measure of how closely predicted sales match actual sales. Higher accuracy indicates more reliable predictions.
I
Inactive (Notification Status)
A notification that is disabled and will not send alerts until activated.
Inventory Status
The health classification of a product's inventory level. Options include: Normal, Order Now, Out of Stock, Overstock, and Replenishing.
L
Lead Time
The number of days between placing a purchase order and having the inventory available for sale. Includes supplier processing, shipping, receiving, and preparation time.
N
Normal (Status)
An inventory status indicating healthy stock levels—above reorder point and below overstock threshold.
Notification
An automated email alert sent to configured recipients about inventory status. Can be scheduled daily, weekly, or monthly.
O
Onboarding
The initial setup process when you first install StockWise. Includes store verification, configuration, data sync, and first forecast generation.
Order Now (Status)
An inventory status indicating stock has reached or dropped below the reorder point. Action should be taken to place a purchase order.
Out of Stock (Status)
An inventory status indicating zero inventory available. Requires urgent reorder.
Overstock (Status)
An inventory status indicating inventory exceeds the defined overstock threshold. Capital may be tied up in excess stock.
Overstock Days
A threshold setting defining the maximum days of inventory before triggering an overstock warning. Calculated as days of supply based on consumption rate.
P
Purchase Order (PO)
An order placed with a supplier to replenish inventory. StockWise recommends when to place orders and how much to order.
R
Recipient
An email address configured to receive notification alerts.
Recommended Order Quantity
The suggested number of units to purchase based on consumption rate, lead time, and target inventory levels.
Reorder Point
The inventory level at which a new purchase order should be placed. Calculated as: (Lead Time + Safety Stock Days) × Daily Consumption.
Replenishing (Status)
An inventory status indicating a purchase order has been placed and inventory is in transit. Manually set by the user.
S
Safety Stock
Extra inventory maintained as a buffer against unexpected demand or supplier delays.
Safety Stock Days
A threshold setting defining how many days of extra inventory to maintain as a safety buffer. Added to lead time when calculating reorder points.
SKU
Stock Keeping Unit. A unique identifier for a product variant, used for inventory tracking.
Sync / Synchronization
The process of importing and updating data from Shopify to StockWise. Includes products, inventory, and orders.
T
Threshold
A configurable limit that affects inventory status calculations. Includes Lead Time, Safety Stock Days, and Overstock Days.
Time Zone
Your configured local time zone, which affects when notifications are sent and how dates are displayed.
V
Variant
A specific version of a product. For example, a t-shirt product might have variants for different sizes and colors. StockWise tracks inventory at the variant level.
Can't find a term? Contact support and we'll add it.